The Fred Ebb Award, according to press notes, "recognizes excellence in musical theatre songwriting, by a songwriter or songwriting team that has not yet achieved significant commercial success. The award is meant to encourage and support aspiring songwriters to create new works for the musical theatre." The prize includes a $50,000 award and a one-night-only showcase of the winner’s work. The Fred Ebb Foundation is funded by royalties from Mr. Ebb’s vast catalogue of work. Each year, the Foundation also makes a donation to Broadway Cares/Equity Fights AIDS.